P.A.M. Transportation Narrows Loss in 3Q

October 29, 2009

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While the third quarter was not as bad as the prior quarter and year-ago period for the truckload carrier, P.A.M. Transportation Services still posted a net loss of $1.2 million, or 13 cents a share, for the three-month period
. This is up from the company's net loss of $3.2 million, or 33 cents a share, for the third quarter of 2008.

In addition, the Tontitown, Ark.-based company saw its operating revenue drop 27.6 percent to $76.7 million, compared with $106 million in the 2008 period.

Despite the results, Daniel Cushman, who took over as president just before the third quarter began, had a positive outlook.

"Although market conditions continue to be very challenging, PTSI is excited to demonstrate continuous improvement in the areas we needed to improve the most," he said. "I mentioned in the second quarter release the need to continue to diversify as well as expand our position in the marketplace. We feel we have done a lot to accomplish that."

"Like every other trucking company, we would welcome any help we could get from an improved economy. That said, we are not dependent on that happening. Our ability to penetrate the marketplace with new customers as a result of our key personnel additions will help us tremendously."

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